Australian Government Allocates $700000 To Blockchain Study

Larry Hoffman
May 11, 2018

Engineers Australia National Manager of Policy Jonathan Russell stated that while there appears to be declining investment, this represents the government shifting away from objective grants to state governments and towards more seed money for private corporations to create projects and find investors to support those projects.

Earlier, the government of Australia also published a plot related to an ambitious new Digital Economy initiative.

STEM, according to Science and Technology Australia CEO Kylie Walker, was a standout victor in the 2018 budget announcement.

A mental health service to tackle social isolation and grants to boost participation in sport are among new measures announced in the federal budget to support older Australians in the community.

The Growth Plan includes a landmark 10-year $500 million commitment to the Genomics Health Futures Mission.

In explaining the inequity of the budget spend on the road network, the AAA points out that the government will collect $54.4 billion from the fuel excise - $12.6 billion in 2018/19 alone - and a further $5.1 billion from the luxury auto tax and import tariff. Investments will be guided by the National Research Infrastructure Roadmap, developed by Australia's Chief Scientist, and will require co-investment by industry and other institutions.

The $140 million will be spent on upgrading two supercomputers, housed at the Pawsey Supercomputing Centre in Perth and the National Computational Infrastructure facility at the Australian National University in Canberra.

The Australian Skills Quality Authority (ASQA) has been allocated AU$6.6 million in capital funding over four years to modernise its IT systems to support "enhanced data analytics and information sharing capabilities, streamlined registration processes and improved transparency".

Australia can not afford to follow in adopting blockchain tech, warns its own federal research agency.

A 10-year $1.3 billion National Health and Medical Industry Growth Plan, supported by proceeds from the Medical Research Future Fund.

$240 million for a Frontier Science program aiming to support innovative medical research, devices and treatments. A$93 million will be used for Biomedtech programs and Industry Researcher Collaborations to increase biomedical research and strengthen links between Australian researchers and industry.

$125 million for the Million Minds Mental Health Research Mission to support more research and better diagnosis and treatment of mental illness. The Australian Government also expects that this will have a trickle-down effect on traditional industries - allowing them to improve efficiencies, increase their access to global markets, and make them more competitive.

$260 million investment in satellite positioning and imaging infrastructure through Geoscience Australia.

Prime Minister Malcolm Turnbull had last week announced a review of the APS to look into whether Australia's government departments are "equipped to engage with the key policy, service delivery, and regulatory issues of the day" in the face of digitisation. A large part of this funding will be delivered in partnership with the Great Barrier Reef Foundation, with a focus on improving water quality, funding research into coral restoration and adaptation and combating crown-of-thorn starfish.

New and continued funding of $536 million to protect the Great Barrier Reef.

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